Business
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Qoo10 CEO questioned in e-commerce fraud probe
SEOUL, September 30 (AJP) -- The prosecution investigating a payment delay scandal involving e-commerce platforms Tmon and WeMakePrice on Monday questioned the chief executive officer of their Singapore-based parent company, Qoo10 Group. The two Korean firms have been embroiled in a financial crisis since July, unable to settle payments with merchants on their platforms. Qoo10 CEO Koo Young-bae is suspected of diverting funds from the companies to assist with corporate acquisitio
September 30, 2024 -
Study exposes suspected Chinese trolls targeting Korean industries
SEOUL, September 29 (AJP) - Suspected Chinese online accounts were found to have conducted comment campaigns to manipulate public opinion on key industries where South Korea and China are in fierce competition, according to a study released Sunday. The research, conducted by Professors Kim Eun-young of Catholic Kwandong University and Hong Suk-hoon of Changwon National University, analyzed comments on articles about electric vehicles, batteries, e-commerce and others on online platf
September 29, 2024 -
Woori Bank expands international teller services
SEOUL, September 27 (AJP) - Woori Bank said Friday that it is expanding its teller services for foreign customers by establishing Global Desks at four additional branches and introducing Sunday operations at select locations. International services are now available at its headquarters branch in central Seoul for U.S. and Chinese nationals, at the Gwanghui-dong Financial Center for Mongolian and Russian clients, at the Uijeongbu Financial Center for Thai and Cambodian clients, and a
September 27, 2024 -
Samsung faces fines over radiation exposure incident
SEOUL, September 27 (AJP) - Samsung Electronics faces fines and a possible prosecution investigation over a radiation exposure accident at its plant in May, which Korea’s nuclear safety regulator has determined was caused by deliberately disabled safety devices. The incident occurred at the tech giant’s Giheung plant in Yongin, south of Seoul, when two employees were repairing an X-ray device used to analyze semiconductor wafer components. Both workers received radia
September 27, 2024 -
KEPCO builds largest energy storage system in Asia
SEOUL, September 27 (AJP) - Korea Electric Power Corp. (KEPCO) has constructed Asia's largest energy storage system (ESS) in the southern city of Miryang. The state power company held a completion ceremony on Thursday for the 978 megawatt-class ESS for grid stabilization in Miryang. The ESS is a system that stores electricity when demand is low and supplies it during peak times. This project, with a total investment of 830 billion won, involved installing a power conversion s
September 27, 2024 -
POSCO Future M delays completion of Canadian JV cathode plant
SEOUL, September 27 (AJP) - Korean battery materials maker POSCO Future M announced postponing the completion of its cathode material plant in Canada, a joint venture with General Motors (GM). The facility in Bécancour, Québec, originally scheduled to be finished on Sept. 30, will see its completion date adjusted due to local conditions, the company said in a regulatory filing on Thursday. "We are currently adjusting the completion schedule due to local circumstan
September 27, 2024 -
Samsung unveils Galaxy Tab S10 series with enhanced AI features
SEOUL, September 27 (AJP) - Samsung Electronics on Friday released its new premium tablet line, the Galaxy Tab S10 series, featuring the S10 Ultra and S10+ models. The devices boast Dynamic AMOLED 2X displays and are powered by MediaTek Dimensity 9300+ processors, offering improved performance compared to previous models. The tablets incorporate AI-optimized features for large screens, including Note Assist for voice recording transcription and PDF translation, and Circle to Search
September 27, 2024 -
Korean trade association opens office in Poland
SEOUL, September 27 (AJP) - The Korea International Trade Association (KITA) said Friday it has opened its second overseas office in Europe in Warsaw, the capital of Poland, to support exports to Central and Eastern Europe. Poland is Korea's second-largest export destination in the European Union, KITA said, adding that the two countries are collaborating in various fields, including batteries, defense, infrastructure, and the reconstruction of Ukraine. "Last year, trade
September 27, 2024 -
Seoul court rules Samsung C&T not liable for delayed interest to Elliott
SEOUL, September 27 (AJP) - A Seoul court ruled on Friday that Samsung C&T is not required to pay delayed interest to the U.S. hedge fund Elliott in a lawsuit over a controversial merger between two Samsung Group units. The Seoul Central District Court rejected Elliott's claim for the additional payment of 26.7 billion won (US$20.2 million), which stemmed from a dispute over Samsung C&T's merger with Cheil Industries in 2015. Elliott opposed the merger and exercis
September 27, 2024 -
SK Ecoplant unit launches battery recycling plant in Netherlands
SEOUL, September 27 (AJP) - SK tes, a subsidiary of Korean environmental services firm SK Ecoplant, announced the inauguration of a battery recycling facility in Rotterdam, Netherlands on Friday. The plant, capable of processing batteries from about 40,000 electric vehicles annually, aims to strengthen the company's position in the growing European battery recycling market. The facility, spanning 10,000 square meters, can produce up to 10,000 tons of black mass per year. Black m
September 27, 2024
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PHOTOS: KES 2024 opens at COEX, highlighting AI innovations
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BLACKPINK's Jennie makes Billboard Hot 100 debut with latest single
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British Embassy's roundtable meeting raises awareness of climate change
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Workers over 60 become largest employed age group in Korea for first time
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South Korea mulls sending inspectors to Ukraine to monitor North Korean troops in Russia
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U.S. stealth fighter completes maiden landing on Japanese vessel
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5.8 magnitude earthquake strikes Indonesia's Molucca Sea region
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North Korea dismisses allegations of troop deployment to Russia as 'groundless'
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Pulmuone showcases flagship plant-based food products at Paris show
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Viet Nam appoints military general Luong Cuong as new president